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You are a banker working for Westpac Banking Corporation. Your neighbour is retired and has invested some of his superannuation in a share portfolio that includes Westpac shares. Although he is not unhappy about the bank’s share performance he believes Westpac can do better by its shareholders. In particular he is not sure about the values of socially responsible projects Westpac undertakes. As you are to present a brief in an issue of your own choice in next monthly staff meeting you decide to write the brief on the following topic: ‘Is maximising the value of the firm to its shareholders consistent with the firm exercising considerable social responsibility?’ Write the brief incorporating various social obligations undertaken by Westpac to illustrate your argument.
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